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Yes. Equilibrium is created at the intersection of the Demand curve and Supply Curve. Equilibrium can be shifted if the Demand curve increases or decreases, and the same happens when the Supply curve increases or decreases. Without demand, you would just have a Supply curve.
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What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
What is needed to determine equilibrium price of a good or a service?
a supply curve and a demand curveA supply curve and a demand curve.
What is needed to dertermine the equilibrium of a good or service?
by finding where the supply curve and the demand curve intersect
What does equilibrium?
Equilibrium is the point where demand = supply
An increase in demand will cause the equilibrium price and quantity to rise?
An increase in demand will cause the equilibrium price to fall and equilibrium quantity to rise.
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
What is needed to determine equilibrium price of a good or a service?
a supply curve and a demand curveA supply curve and a demand curve.
What is needed to determine the equilibrium price of a good or services?
a supply curve and a demand curveA supply curve and a demand curve.
What is needed to dertermine the equilibrium of a good or service?
by finding where the supply curve and the demand curve intersect
What does equilibrium?
Equilibrium is the point where demand = supply
Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.
An increase in demand will cause the equilibrium price and quantity to rise?
An increase in demand will cause the equilibrium price to fall and equilibrium quantity to rise.
What is the equilibrium of a firm?
The equilibrium of a firm depends with the elasticity of a demand curve.
When equilibrium demanded is greater than quantity?
No. Equilibrium is when supply and demand are equal
What happens to the equilibrium price and equilibrium quantity in a market if the demand curve shifts to the right?
If the demand shift to the right, the equilibrium price and quantity will shift from the initial equilibrium price and quantity to the next, i mean the equilibrium price and quantity will increase as compare to the first.
Write a short note on decrease in demand?
A decrease in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a leftward shift of the demand curve. A decrease in demand is caused by a change in a demand determinant and results in a decrease in equilibrium quantity and a decrease in equilibrium price. A demand decrease is one of two demand shocks to the market. The other is a demand increase. A demand decrease results from a change in one of the demand determinants. The leftward shift of the demand curve disrupts the market equilibrium and creates a temporary surplus. The surplus is eliminated with a lower price. The comparative static analysis of the demand decrease is that equilibrium quantity decreases and equilibrium price decreases.
If a company raises its price for holidays over the equilibrium price the demand will?
if a company raises its price for holidays over the equilibrium price, the demand will
